Pound Drops After BoE Decision

As expected, the Bank of England raised its key rate by 50 basis points to 1.75 percent from 1.25 percent. Following the decision, the pound weakened against its major counterparts.

The pound was trading at 162.95 against the yen, 1.2134 against the greenback, 0.8391 against the euro and 1.1642 against the franc around 7:04 am ET.

For comments and feedback contact: editorial@rttnews.com

Forex News

Follow RTT